The ruble fell as the Kremlin allowed "friendly' countries to re-enter its bond market.
Investors haling from countries that haven't taken part in sanctions against Russia are allowed to trade in debt securities.
Russia's currency tumbled as much as 1.5% to 61 against the US dollar on Monday.
The ruble sank early Monday as Russia allowed so-called "friendly" countries to re-enter Moscow's bond market.
Moscow's fiat currency fell as much as 1.5% to 61 against the US dollar, while also pulling back roughly 0.2% against the euro.
The Kremlin announced plans last week for investors haling from countries that haven't taken part in sanctions against Russia to trade in debt securities.
Russia will also convert global depository receipts, or GDR's, into shares to be traded on the Moscow Exchange. Russia's central bank said on Monday that it planned to write off the GDR's from account holders and then credit the shares.
Moscow closed off its markets in February to keep a tighter seal on outflows of capital, after President Vladimir Putin launched the invasion of Ukraine.
And the ruble's latest fall adds to the wild swings the currency has seen after notching all-time highs and record lows this year.
Following Russia's deployment of troops to Ukraine, the ruble sank against the dollar to 121.53, only to recover to 50.01 in June to become the world's top performing currency. The Russian central bank aggressively raised interest rates to nearly 20% in an effort to shield the country from Western and European sanctions.
Meanwhile, at least six big Wall Street banks have started dealing in Russian bonds again, Reuters reported, after the US authorities gave a reprieve to investors stuck with the now-toxic debt.
JPMorgan Chase, Bank of America, Citigroup, Deutsche Bank, Barclays and Jeffries Financial Group have cautiously re-entered the market for Russian government and corporate bonds, Reuters reported Monday. They are once again offering to facilitate trades for clients, the outlet said, based on interviews and bank documents.
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